- MetaMask guarantees a 4% return on rewards every year before deducting a 10% charge.
- Staking has locked up almost 25% of Ethereum’s entire circulating supply.
The renowned cryptocurrency wallet application MetaMask has teamed up with Consensys Staking to operate Ethereum validator nodes for users who are ready to stake a minimum of 32 ETH, which is equivalent to around $80,000.
After ‘The Merge,’ which occurred in September 2022 and marked the switch from a proof-of-work to a proof-of-stake network, such validators are now responsible for securing Ethereum’s network. To operate one validator, it takes 32 ETH, although many staking companies let users pool lesser amounts together so one may divide the earnings.
Hassle-free Staking
But there will be no pooling and no software or hardware needs with MetaMask’s new staking solution. Instead, the 32 ETH stake powers a node that verifies transactions using the Consensys Staking service. This service currently governs validators that account for around 4% of all staked ETH.
At the moment, MetaMask guarantees a 4% return on rewards every year before deducting a 10% charge. However, the business does warn that this yield might go up or down depending on the randomness of validators’ blocks being added to the network.
Despite overseeing over $2 billion worth of ETH among more than 33,000 validators, Consensys, the service’s manager, has maintained a perfect record of slashing penalties in over two years of operations, according to the firm.
With 9.3 million ETH valued at $22.9 billion staked presently, Lido is the industry-leading platform for liquid staking. This amounts to almost 40% of the entire 28.8 million ETH staked, as reported by Ultrasound.Money. Staking has locked up almost 25% of Ethereum’s entire circulating supply.
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